This morning (the 14th), around 5 AM on the 14th, there were community rumours circulating that BlackRock had applied for a new XRP fund, but it was quickly confirmed to be false information. This led to a brief surge of 15% in the XRP price, but it swiftly retracted, giving back the gains.

WhaleWire states in X (formerly known as Twitter),

“BlackRock has officially filed for a new iShares$XRP Trust Entity."

This is False!

However, Bloomberg analyst Eric Balchunas quickly posted a message on X, stating that he had confirmed with BlackRock that the screenshot showing the registration of iShares XRP Trust in Delaware was false news. He pointed out that malicious individuals were causing confusion by using the names of BlackRock and its executives.

Eric was saying,

“This is false! Confirmed by BlackRock by me. "

The Surges and Plunges of XRP

After the false news surfaced, the price of XRP surged by 15% to reach a high of US$0.75, only to plummet rapidly. By the deadline, it was trading at US$0.66, nearly retracting almost all of its gains.

The Fake News from Cointelegraph

Earlier in mid-October, the cryptocurrency media Cointelegraph mistakenly reported that the U.S. Securities and Exchange Commission (SEC) had approved the Bitcoin spot ETF (iShares Bitcoin Trust) by BlackRock. This news briefly caused the price of Bitcoin (BTC) to surge by US$2,000 within a short period.